Last updated on June 25th, 2020 at 10:56 pm
Last Updated on June 25, 2020 Posted by Colonial Acres Coins
There is a newcomer among the exquisite society of rare coins. Purchased unknowingly by an anonymous Canadian dealer, it was a part of a larger bullion collection. A two-ducat coin originating from Saxony, the piece is actually so rare that even reference books couldn’t provide any info about it. The dealer decided to ask for help and contacted Peter McDonald, a recipient of the 2018 Charles D. Moore Professional Numismatic Award. As Peter McDonald later discovered, the coin carried a mint mark which indicated that it was struck in the city of Dresden by the famous mint master Friedrich Wilhelm o Feral. According to McDonald, it was struck in 1740. The origin of the coin made it valuable by itself, but there was more to it.
Extraordinary Finding
As soon as the dealer forwarded the pictures to McDonald, he realized how significant this coin actually is. Apart from the common identifier in the shape of a mint mark, the coin weighed around 6.96 grams. Additionally, the two-ducat denomination is very unique considering that this issue usually came only in half- or one-ducat denominations. McDonald said that the coin had not even been noted in the Gold Coins of the World Catalogue.
Face Of The Coin
The dealer himself noticed that the reverse of the coin carried what almost looked like a Polish coat of arms, but he wasn’t sure why a coin minted by a German mint master would have a heraldic symbol of a different country. As McDonald later concluded, the coin also depicted the bust of Frederick Augustus II, who spent his life as the elector of Saxony from 1733-63. He was also the king of Poland and carried the title of Grand Duke of Lithuania. The coat of arms found on the coin’s reverse also belonged to him.
Mint State
Following advice given by McDonald, the dealer sent the coin to the Numismatic Guaranty Corporation, and they were able to provide him with a confirmation on the very same day. They have certified the coin as Mint State – 62 on the Sheldon coin grading scale. Such a result was very surprising for both the dealer and McDonald, and after confirmation was provided, the coin’s value increased threefold. The coin also became part of their database, so in case there are more coins of the same type out there, their identification will be much easier in the future.
Auction Time
The owner of the piece decided to try his luck and potentially sell it at the annual auction in New York. One of the more famous auction houses from Europe valued the coin at between $30,000 and $45,000 CAD. The coin was put up for auction on January 6th, 2019 at the New York International Numismatic Convention. It sold for $42,600 USD and considering that the piece is extremely valuable and among very rarest coins in existence today, there was no doubt it would be purchased at that price.
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Colonial Acres Coins is your premier dealer of rare and interesting coin pieces and paper money. Colonial is home to an expert team of professional numismatists who will go out of our way to not only help you find the right rare Canadian coin for your collection but to also offer accurate knowledge on many specimens you maybe already own but know little about. We have been in business for nearly three decades and have gained a nation-wide reputation as a trustworthy and fair dealer and appraiser of valuable coin pieces in that time. Whether you’re a new or experienced collector, rest assured that Colonial Acres is THE place to be.